The global flock adhesives market is projected to grow from USD 2.35 Billion in 2017 to USD 3.18 Billion by 2022, at a CAGR of 6.3% in terms of value. Factors driving the growing usage of flock adhesives are the application expansion achieved through the improved quality of flock adhesives and increased demand for coated fabrics and luxury products globally. The growth in applications, especially in the emerging markets of Asia Pacific and the shift in consumer preference toward high-quality standard and decorative end–use products such as luxury packaging are driving the growth of the flock adhesives market. However, the macro factors such as the global economic slowdown and volatile raw material prices could affect the market growth.
Key players in the flock adhesives market are Henkel (Germany), H.B. Fuller (US), Sika AG (Switzerland), Dow Chemical (US), Kissel + Wolf (Germany), and Lord Corporation (US), among others. These players have adopted various strategies to expand their global presence and increase their shares in the flock adhesives market. New product launches, expansions, partnerships & collaborations, and mergers & acquisitions are some of the major strategies adopted by the market players to achieve growth in the flock adhesives market. These players have established their brands and are associated with different resin types of flock adhesives, such as acrylics, polyurethanes, epoxy resins, polyvinyl acetate, and ethylene vinyl acetate.
Dow Chemical (US) has a strong position in the flock adhesives market and its consumer solutions business segment has a global presence. The company adopted partnerships & collaborations as a key strategy to enhance its position in the flock adhesives market. In June 2016, Dow Automotive and Aston Martin formed a technical partnership which is expected to facilitate an expansion of their collaborative development efforts. As a part of this partnership, a broader portfolio of Dow Automotive, including flock adhesives, will be utilized for Aston Martin production models and race cars. The company provides flock adhesives with a strong focus on green technologies in comparison to other companies. Dow Chemical also offers multiple brands of flock adhesives such as MOR-FLOCK and POLYFLOCK.
Sika AG (Switzerland) adopted the strategy of mergers & acquisitions to strengthen its position in the flock adhesives market. In 2015, Sika acquired Axson Technologies (US), a leader in the formulation of adhesives, composite materials, and encapsulation. The company has plans to expand its revenue and geographical presence with this acquisition and enhance its flock adhesive product offerings. Sika AG offers a wide range of flock adhesives under the brand names SikaMelt, SIKASENSE, and SikaTherm for automotive applications. The company offers both water-based and solvent-based one-component and two-component flock adhesives to cater the demand from the automotive industry.
Flock Adhesives Market by Resin Type (Acrylics, Polyurethane, Epoxy Resin), Application (Automotive, Textiles, Paper & Packaging), and Region (North America, Europe, Asia Pacific, Middle East & Africa, South America) - Global Forecast to 2022
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